The commodity price of wheat is on peak

The price of wheat is on peak, because of the domestic and U.S. news. One ton of wheat at the commodity exchange is subscribed for 65 thousand HUF for August, while five days ago, it was 55 thousand. In the U.S., corn prices increased by 27 percent  in a month, due to the drought, pushing up the wheat prices as well.

In Hungary, the autumn, winter drought and the recent heat wave reduced the crop. The prospects are not good: the Ministry expected 4 million tons and high quality wheat yesterday, while agricultural experts forecast from 3.5 to 3.7 million tons, good quality crop. The price expectations are clear: according to the producers, under 60 thousand high-quality crop should not be sold. The stock price changes reflect this. (szabadfold.hu, O. Horváth György)